Correlation Between CI Black and Global Iman
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By analyzing existing cross correlation between CI Black Creek and Global Iman Fund, you can compare the effects of market volatilities on CI Black and Global Iman and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CI Black with a short position of Global Iman. Check out your portfolio center. Please also check ongoing floating volatility patterns of CI Black and Global Iman.
Diversification Opportunities for CI Black and Global Iman
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between 0P0000752C and Global is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding CI Black Creek and Global Iman Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global Iman Fund and CI Black is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CI Black Creek are associated (or correlated) with Global Iman. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global Iman Fund has no effect on the direction of CI Black i.e., CI Black and Global Iman go up and down completely randomly.
Pair Corralation between CI Black and Global Iman
Assuming the 90 days trading horizon CI Black is expected to generate 3.27 times less return on investment than Global Iman. But when comparing it to its historical volatility, CI Black Creek is 1.29 times less risky than Global Iman. It trades about 0.06 of its potential returns per unit of risk. Global Iman Fund is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 4,329 in Global Iman Fund on September 4, 2024 and sell it today you would earn a total of 107.00 from holding Global Iman Fund or generate 2.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
CI Black Creek vs. Global Iman Fund
Performance |
| Timeline |
| CI Black Creek |
| Global Iman Fund |
CI Black and Global Iman Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CI Black and Global Iman
The main advantage of trading using opposite CI Black and Global Iman positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CI Black position performs unexpectedly, Global Iman can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Global Iman will offset losses from the drop in Global Iman's long position.| CI Black vs. Middlefield Global Real | CI Black vs. RBC Global Technology | CI Black vs. CI Global Health | CI Black vs. CI Global Alpha |
| Global Iman vs. Edgepoint Global Portfolio | Global Iman vs. RBC Global Equity | Global Iman vs. CI Black Creek | Global Iman vs. TD Comfort Aggressive |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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